Chemicals and seeds company United Phosphorus Ltd has bought the global fungicide business (non-mixture mancozeb) of US Chemical giant DuPont. The acquisition will give United Phosphorus the existing inventory, manufacturing and formulation production facilities in Colombia.
The company will also get rights to registered brands for non-mixture mancozeb products, trademarks, registration and supporting regulatory data for those products, which includes the Manzate brand fungicides. The takeover will provide an opportunity to further strengthen its fungicide business in South and Central American markets. Its balance sheet is well positioned to take advantage of any inorganic opportunities in the global agrochemical sector.
Mancozeb is a broad spectrum contact fungicide effective on a wide range of crops and the new acquisition will help United Phosphorus and its subsidiaries throughout the world to start selling Manzate and its formulations immediately. United Phosphorus' revenue for the fiscal ended March 2010 was $1,142 million.